The Equipment Leasing & Finance Foundation released the January 2023 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today, reporting that confidence in the equipment finance market is 48.5, an increase from the December index of 45.9.
The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector.
When asked about the outlook for the future, MCI-EFI survey respondent David Normandin, president and CEO, Wintrust Specialty Finance, said, “2023 brings uncertainty with a looming recession in front of us, yet robust volume and credit quality continue to be our experience. Being nimble and creative to find solutions will be valuable attributes to have in your organization as we stretch our legs into 2023. Fortunately, this is where the commercial equipment finance industry has excelled and I believe it will once again.”
Source: Equipment Leasing & Finance Foundation
About the Author
Frank Raczon
Frank Raczon has covered and influenced the equipment industry for 35 years, including 15 years as senior editor of Construction Equipment, and marketing, advertising, and public relations work with the industry's top manufacturers. In addition to authoring "Caterpillar: Modern Earthmoving Marvels" (Motorbooks, 2015), he has won numerous awards in his career, highlighted by nods from the Construction Writers Association, the Association of Equipment Manufacturers, the Business Marketing Association, and BtoB magazine. Raczon has also won a number of awards from publishing peer groups such as ASBPE and TABPI.